Prestige releases international hotspot index
The index analyses the current top-ten overseas residential hotspots, providing an incisive guide for investors who are thinking of buying foreign property. It features all the factors that need to be considered before investing abroad, including: prices, rental yields, the local legal system, social and economic stability and the cost of finance. Prestige Group already undertakes this analysis to guide its business and has decided, first time to make it publicly available.
Top of the Index is Warsaw, with the Polish capital just beating Florida, which continues to perform well. Five of the top ten hotspots are emerging markets. Three are in former Eastern Bloc countries, highlighting the trend for property investors to move away from the Mediterranean towards less traditional investment countries.
The Algarve’s central and eastern areas have been successful investment areas for a number of years but recently the Western Algarve has emerged as a prime location. Cape Town and Dubai also feature but certain issues remain with both destinations.
Paul Coghlan, chairman at Prestige Group, commented: “All too often investors focus on the price of property and potential price increases, whilst factors such as the ease of finance and the legal issues are overlooked. Overseas residential markets provide a great opportunity for some major returns but, as with any investment, people have to see past the hype and do their research. The idea of the index is to provide some guidance to potential investors.”